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On Monday, WeWork's stock trading was halted ahead of the opening bell. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementEmbattled real estate giant WeWork filed for Chapter 11 bankruptcy on Monday. WeWork's bankruptcy comes amidst a years-long reorientation for the office industry. Offices globally emptied, and the once-stable commercial real estate sector was thrown into unprecedented chaos, from which it has not fully recovered.

Persons: WeWork, —, David Tolley, Adam Neumann —, SoftBank, Regus, wasn't WeWork, I've, Masayoshi Son, Adam Neumann, Jackal Pan, Sandeep Mathrani, Neumann, Marcelo Claure Organizations: Service, WeWork, Wall Street, New York Stock Exchange, Visual China, Getty, CNBC Locations: Canada, WeWork, York

☆ Shein, the fast fashion darling mulling a U.S. IPO, opens up about forced labor, data privacy
▼ + stars: | 2023-10-19 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +16 min

The committee is investigating Shein over concerns that Uyghur forced labor is being used in its supply chain and has gone undetected because of the de minimis provision. The committee has not yet drawn conclusions about forced labor in Shein's supply chain. When asked about claims of forced labor in Shein's supply chain, Claure told CNBC he doesn't "believe those allegations are correct." However, forced labor can still show up in other parts of the supply chain, said Chloe Cranston, the head of thematic advocacy programmes at Anti-Slavery International. In 2022, 11% of audits turned up "zero tolerance violations," including child labor, forced labor and wage violations, and 28 suppliers were terminated as a result, according to the company.

Persons: Elham Ataeiazar, Shein, Donald Tang, Matt Kennedy, they're, they've, Mike Gallagher, Elise Stefanik, Steve Scalise, Chip Somodevilla, we're, Marcelo Claure, Claure, Ralph Lauren, Rupert Hodges, Oritain, Chloe Cranston, Cranston, It's, it's, Shang, Jin Wei, Wei, Austin Knudsen, Chris Xu, Jade Gao, Knudsen, Gary Gensler Organizations: Wall, Bear, Chinese Communist Party, U.S, Renaissance Capital, CNBC, Bloomberg, Nike, Adidas, Republican National Committee, Washington , D.C, D.C, Target, Costco, Visual China, Getty, Workers, Columbia University's, Communist, CCP, Microsoft, AFP, U.S . Securities, Exchange Locations: Bear Stearns, U.S, China, Beijing, Xinjiang, Washington ,, Washington, Singapore, Nanjing, United States, Chinese, Guangzhou, Brazil, Turkey, India, Mexico, Montana

☆ Asia markets little changed ahead of key China data
▼ + stars: | 2023-10-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Vcg | Visual China Group | Getty ImagesAsia-Pacific markets were little changed in early Wednesday trading as investors look to key economic data from China. China will release its third-quarter gross domestic product data. The world's second-largest economy will also release its industrial output and retail sales data for September, as well as its urban unemployment rate. The unemployment rate is one of the key metrics that the Reserve Bank of Australia considers when setting its monetary policy. Japan's markets are trading close to the flatline, with the Nikkei 225 down just 0.1% and the Topix gaining marginally.

Persons: Kospi Organizations: Visual China, Getty, Reserve Bank of Australia, Nikkei Locations: Beijing, China, Asia, Pacific, Australia

☆ China's third-quarter growth exceeds forecast, buoyed by consumer spending and industrial production
▼ + stars: | 2023-10-18 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Vcg | Visual China Group | Getty ImagesChina's third-quarter economic growth came in stronger than expected, boosting hopes that the world's second-largest economy will meet or even exceed Beijing's target for about 5% this year. China posted 4.9% growth in the July to September quarter from a year earlier, according to a release from China's National Bureau of Statistics on Wednesday. This follows the 6.3% print for the April-June quarter and 4.5% growth for the January-March quarter. On a quarter-on-quarter basis, China's economy grew 1.3% in the third quarter, stronger than economists' expectations for a 0.9% growth. China's consumer prices were flat in September, on the verge of deflation, while producer price index saw annual declines slow for a third month.

Organizations: Visual China, Getty, China's National Bureau, Statistics, CNBC Locations: Chongqing, China

☆ Check out the giant ship critical to building the world's biggest offshore wind farm
▼ + stars: | 2023-10-16 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +5 min

As wind turbines get bigger, the vessels that install them are having to change, too. VCG | Visual China Group | Getty ImagesA project to build a facility described as "the world's largest offshore wind farm" took a big step forward this month by producing its first power. The sea in the Dogger Bank Offshore Development Zone is up to 63 meters deep, meaning the Voltaire's ability to work in deeper waters is crucial. "Off the Scottish coast, for example, expensive floating windfarms are often the only way to tap into offshore wind," he said. Søren Lassen is head of offshore wind research at Wood Mackenzie, a research and consultancy group.

Persons: De Nul Group's, GE Vernova's, Voltaire —, De, —, Jan De Nul Group's Voltaire, Voltaire, Jan De Nul, Jan De Nul's Rutger Standaert, Standaert, Søren Lassen, Wood Mackenzie, Lassen, David L, Ryan, Wood Mackenzie's Lassen Organizations: Visual China, Getty, Dogger Bank Wind, GE, Dogger Bank, Dogger Bank Offshore Development, COSCO Shipping Shipyard, CNBC, Boston Globe, GE Offshore, Blades, U.S Locations: China, North, Golden, Dogger, U.S

☆ Asia's edge isn't just cheap labor, whether it's China, India or Japan, KKR says
▼ + stars: | 2023-10-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Now, whether it's China, India or Japan, the region's edge lies in industrial services, KKR's heads of global and Asia macro said in an October note. That investment conclusion comes after a recent trip to Singapore, China and Japan by New York-based Henry H. McVey, chief investment officer of KKR Balance Sheet. "The bid for infrastructure and logistics could accelerate even more meaningfully, we believe, in key markets such as India, China, Indonesia, the Philippines, Vietnam and even Japan," the KKR report said. That includes a $2 billion acquisition of a Mitsubishi-backed real estate manager in spring 2022.watch now"I think there are two big megathemes in Japan," KKR's McVey said in an interview Thursday. The other big trend in Japan, McVey said, is corporate reform that's boosting shareholder returns.

Persons: Henry H, McVey, Frances Lim, KKR's McVey, Fumio, haven't, Warren Buffett, Lim didn't, There's, Nisha Awasthi, Lim Organizations: Visual China, Getty, BEIJING, KKR, Mitsubishi, Hitachi Transport System, Logisteed, Hyatt Regency, Gaw Capital Partners, Wednesday, China Locations: China, Haikou, Hainan, India, Japan, Asia, Singapore, New York, Indonesia, Philippines, Vietnam, Hyatt Regency Tokyo, Gurugram, BlackRock, Mumbai, Pacific, Beijing, Hong Kong, Seoul, Shanghai, Sydney, Tokyo

☆ Asia markets set to extend losses ahead of China loan prime rate decision; Fed decision on horizon
▼ + stars: | 2023-09-20 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

SHENZHEN, CHINA - AUGUST 26: An aerial view of the Shenzhen skyline on August 26, 2020 in Shenzhen, Guangdong Province of China. (Photo by He Shaoping/VCG via Getty Images) Vcg | Visual China Group | Getty ImagesAsia-Pacific markets are set to extend losses from Tuesday as investors await China's one-year and five year loan prime rates and brace for the U.S. Federal Reserve's rate decision Wednesday stateside. The region will also see August trade data out from Japan, while wholesale inflation in South Korea jumped for the first time since July 2022. In Australia, futures for the S&P/ASX 200 also point to a lower open, at 7,184 compared with the last close of 7,196.6. Futures for Hong Kong's Hang Seng index stood at 17,980, lower than the HSI's last close of 17,997.17.

Organizations: Getty, Visual China, U.S, Japan's Nikkei Locations: SHENZHEN, CHINA, Shenzhen, Guangdong Province of China, Asia, Pacific, U.S . Federal, Japan, South Korea, Chicago, Osaka, Australia

☆ China's capital city is letting the public take fully driverless robotaxis — and has bigger rollout plans, startup Pony.ai says
▼ + stars: | 2023-09-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Vcg | Visual China Group | Getty ImagesBEIJING — China's capital city is taking swift steps to allow robotaxi businesses to grow. As of Tuesday, the suburban Beijing city district of Yizhuang is officially letting local robotaxi operators — primarily Baidu and startup Pony.ai — charge fares for fully autonomous taxis, with no human staff inside. "We have very high confidence ... maybe only in three years, our full driverless vehicles are going to be running over the whole Beijing city," he said in an interview with CNBC on Monday. Out of more than 200 robotaxis that Pony.ai operates in the region, only about ten are currently fully driverless, Zhang said. Beijing city did not immediately respond to a CNBC request for comment.

Persons: Ning Zhang, Beijing's, Zhang, Yin Yong, Pony.ai, Baidu, Alphabet's Waymo, Pony.ai's Zhang, —, Leswing, Lora Kolodny Organizations: Visual China, Getty, BEIJING, Baidu, CNBC, Daxing International, robotaxis, General Motors, California Department of Motor Vehicles, Beijing Daxing, Google Locations: Beijing, Yizhuang, Pony.ai, Yizhuang district, Daxing, U.S, San Francisco, California, China, Shenzhen, Wuhan, Chongqing, Guangzhou, Shanghai

☆ Turkish President Erdogan invites Elon Musk to build his next Tesla factory in Turkey
▼ + stars: | 2023-09-18 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Tom Williams | Cq-roll Call, Inc. | Getty ImagesTurkish President Recep Tayyip Erdogan invited Elon Musk to build his next Tesla factory in Turkey, the country's state media reported Monday. "Recalling that with the Turkish electric car Togg hitting the roads in Türkiye, Tesla entered the Turkish market, Erdogan called on Tesla to establish its seventh factory in Türkiye," Turkish state news agency Anadolu reported, citing the country's communications directorate. Musk replied that a number of Turkish suppliers are already working with Tesla and that Turkey "is among the most important candidates" for his next factory, Anadolu wrote. The department reports that of Turkey's manufacturing exports, 36% are medium-tech products and 3% are high-tech products. Anadolu Agency | Anadolu Agency | Getty Images

Persons: Elon Musk, Tesla, Tom Williams, Recep Tayyip Erdogan, Erdogan, Murat Kula, Teknofest, Musk, Malukas Organizations: Cq, Inc, Getty, Sunday, SpaceX, United Nations General Assembly, Turkish, UN, Anadolu, NEW, Elon, United Nations, Anadolu Agency, Getty Images, CNBC, Shanghai Gigafactory, Visual China, Manufacturing, Technology, U.S . Department of Commerce, AFP Locations: Turkey, New York, Manhattan, Turkish, Türkiye, United States, Anadolu, Shanghai, China, Mexico, India, Europe, Asia, Lithuania, Ukraine, Ankara, Turkiye

☆ Asia markets set for stronger open ahead of key data from China
▼ + stars: | 2023-09-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

SHANGHAI, CHINA - JUNE 08: Aerial view of skyscrapers standing at the Lujiazui Financial District at sunrise on June 8, 2022 in Shanghai, China. (Photo by Zhang Zhuoming/VCG via Getty Images) Vcg | Visual China Group | Getty ImagesAsia-Pacific markets are set to rise ahead of key economic data out of China, which could give clues on the trajectory of the world's second largest economy. China will release August data for its house prices, unemployment rate and retail sales, as well as urban investment. Futures for Hong Kong's Hang Seng index stood at 18,171, higher than the HSI's last close of 18,047.92. In Australia, futures for the S&P/ASX 200 also point to a higher open, at 7,283 compared to the last close of 7,186.5.

Persons: Zhang Zhuoming Organizations: Getty, Visual China, Nikkei Locations: SHANGHAI, CHINA, Shanghai, China, Asia, Pacific, Chicago, Osaka, Australia

☆ 'Blatantly protectionist': China sharply rebukes EU probe on Chinese EV subsidies
▼ + stars: | 2023-09-14 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Vcg | Visual China Group | Getty ImagesChina has accused the European Union of "blatant protectionism" after its executive arm unexpectedly launched an "anti-subsidy" investigation into China's electric vehicle makers. The Chinese Commerce Ministry urged dialogue to safeguard the interests of Chinese companies and commit to global efforts to address climate change and achieve carbon neutrality. If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing. "If the EU finds harm from Chinese subsidies, Brussels is likely to impose tariffs on Chinese EVs despite the risk of political and economic backlash from Beijing." EU members are demanding the regional bloc shield European carmakers from Chinese EVs that they say are heavily subsidized by the Chinese government.

Persons: Ursula von der Leyen Organizations: Visual China, Getty, European Union, Chinese Commerce Ministry, CNBC, EU, Beijing . Eurasia, of, Eurasia Group Locations: Jinhua, Zhejiang Province, China, EU, Brussels, Beijing, U.S, Europe, Strasbourg

☆ China auto industry body 'firmly opposes' EU probe on Chinese EV subsidies, urges objectivity
▼ + stars: | 2023-09-14 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Employees work on the assembly line of C11 electric SUV at a factory of Chinese EV startup Leapmotor on April 26, 2023 in Jinhua, Zhejiang Province of China. Vcg | Visual China Group | Getty ImagesThe European Union should "objectively" consider China's electric vehicle industry and its highly competitive industrial supply chain, the head of a China automobile industry body on Thursday. This comes a day after the European Commission, the executive arm of the European Union, unexpectedly launched an "anti-subsidy" investigation into China's EV makers. "The EU should view the development of China's electric vehicle industry objectively, rather than arbitrarily employing unilateral economic and trade tools to restrict the development or increase operating costs of China's electric vehicle products in Europe," he added. He added that Chinese cars exported to Europe are generally retailing at nearly double the prices in mainland Chinese markets.

Persons: Cui Dongshu, Cui, Ursula von der Leyen Organizations: Visual China, Getty, European Commission, European Union, China's, China Passenger Car Association, CNBC, of Locations: Jinhua, Zhejiang Province, China, Europe, Strasbourg, EU, U.S, Beijing

☆ China denies any iPhone ban for government staffers. Here's our take on why Apple stock isn't popping
▼ + stars: | 2023-09-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

AAPL YTD mountain Apple (AAPL) year-to-date performance Many analysts on Wall Street echoed our sentiments, with Credit Suisse calling the recent market reaction "overblown." Jim forecasted Wednesday that Apple stock will likely go higher over the next three months, as consumers begin to trade in their older Apple devices for the company's new offerings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Customers line up to enter an Apple store as iPhone 14 series go on sale on September 16, 2022 in Shanghai, China.

Persons: Jim Cramer, Jim, Jim Cramer's Organizations: Wednesday, Apple, Club, China's Ministry of Foreign Affairs, Street, Credit Suisse, Huawei, CNBC, Visual China, Getty Locations: China, Shanghai

☆ Apple has a big China problem that's 22 years in the making
▼ + stars: | 2023-09-13 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

Consider the following:But as tensions rise between the US and China, Apple may be stuck in the middle. Visual China Group via Getty ImagesApple's dependency on China goes back 2 decadesChina was admitted to the World Trade Organization in 2001. The same year China joined the WTO, Apple began manufacturing in China. Apple turns its flirtatious eye to IndiaAs problems continue to mount in China, Apple is making a — perhaps long-overdue — shift to become less dependent on China. Apple is also increasing its production of iPhones in India but is still miles behind China in terms of both volume and speed.

Persons: Tim Cook, Apple, Luke Lloyd, Varney, Lloyd, Stuart Varney, Barack Obama, Donald Trump, Joe Biden, Evan Vucci, Tim Cook's, Goldman Sachs, Cook, Xi, There's Organizations: Apple, Service, Street Journal, China Development Forum, Visual China, Getty, World Trade Organization, WTO, Strategic Wealth Partners, Fox Business, Co, country's Communist Party, US, AP, Micron Locations: China, India, Wall, Silicon, South Carolina, AP China, iPhones

☆ Shares of Alibaba tumble over 3% after outgoing CEO unexpectedly quits cloud business
▼ + stars: | 2023-09-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The move comes months after Alibaba said in June that Zhang was departing as chairman and CEO of Alibaba Group to focus on the cloud intelligence unit. Stock Chart Icon Stock chart iconIn a surprise leadership reshuffle in June, Alibaba announced that Zhang was bowing out as both CEO and chairman on Sept. 10 to focus on the cloud intelligence business. Zhang was Alibaba Group CEO since 2015 and the group chairman since 2019. He has also been chairman and CEO of the Alibaba Cloud Intelligence Group since 2022. "The board of our Company expresses its deepest appreciation to Mr. Zhang for his contributions to Alibaba Group over the past 16 years," Alibaba said in the Sunday statement.

Persons: Daniel Zhang Yong, Daniel Zhang, Alibaba, Zhang, Eddie Wu, Wu, Joseph Tsai Organizations: Alibaba, Fund, Visual China, Getty, Alibaba Group, Cloud Intelligence Group, Company Locations: Lanzhou, Gansu Province, China, Hong Kong

☆ Tesla rival Polestar plans own smartphone launch alongside its first electric vehicle in China
▼ + stars: | 2023-09-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Vcg | Visual China Group | Getty ImagesMUNICH — Swedish electric vehicle maker Polestar plans to launch a smartphone in December alongside deliveries of its first car to be released in China, the company's CEO told CNBC. It will be the company's first car to be delivered in China, as it ramps up expansion in the world's biggest electric vehicle market. Alongside that, Polestar will take the unusual move of launching a smartphone carrying the brand's name. It stems from a joint venture created in June between Polestar and Xingji Meizu, a Chinese smartphone maker owned by Chinese auto giant Geely . And the Polestar smartphone would not be an attempt to grow market share.

Persons: Thomas Ingenlath, Polestar, Xingji, Meizu, Ingenlath, It's, Neil Shah, Shah Organizations: HK, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, MUNICH, CNBC, Apple, EV, Counterpoint Research, BMW, Mercedes, Benz, Porsche Locations: Shanghai, China, Swedish, Polestar, German

☆ What China's potential iPhone ban could mean for Club name Apple
▼ + stars: | 2023-09-06 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

AAPL YTD mountain Apple (AAPL) year-to-date performance Beijing's new rules, as reported by the Journal, come weeks before Apple's highly-anticipated launch event for the nascent iPhone 15 on Sept. 12. China accounts for about 40 million to 50 million iPhone units for Apple, according to Bank of America. The firm estimated Wednesday that the reported new Chinese ban could result in a 5 million to 10 million-unit headwind for Apple. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Customers try out new iPhones at an Apple store as iPhone 14 series go on sale on September 16, 2022 in Shanghai, China.

Persons: Apple's, iPhones, Jim Cramer's, Jim Cramer, Jim Organizations: Apple, Street, Huawei, Journal, Bank of America, CNBC, Visual China, Getty Locations: China, Beijing, U.S, India, Shanghai

And, in the meantime, our China-focused names are poised to ride out the storm, while finding alternate routes to growth. Beyond the housing-sector woes, manufacturing activity is shrinking, a youth unemployment crisis is a ballooning, and consumer spending remains sluggish. With these macroeconomic headwinds holding back growth for some of the Club's key holdings, here's why we're sticking with these China-exposed names — and how each is responding. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Lauder, Estee Lauder, we're, Tim Cook, That's, Bernstein, WYNN, Wynn, Stifel, Jim Cramer's, Jim, Yan Daming Organizations: Wall, Research, CNBC, Big Tech, Starbucks, Wynn Resorts, WYNN, Wynn, Visual China, Getty Locations: China, Beijing, Asia, Pacific, Hainan, India, Taiwan, Hong Kong, Americas, Europe, U.S, Macao, Wynn, Nanjing, Shanghai

☆ How China became the king of new nuclear power, and how the U.S. is trying to stage a comeback
▼ + stars: | 2023-08-30 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

That is two and a half times more nuclear reactors under construction than any other country. China was just getting started as the United States nuclear industry began to take a back seat. Power follows demand, so the new nuclear reactors tend to be built where fast-developing economies need power to fuel their growth. For the United States to win the export business, it must prove it can put steel in the ground in the United States. "We and our close nuclear energy allies are at what I think is just the start of a fierce competition for supremacy in global nuclear energy export markets," Kotek said.

Persons: Jacopo Buongiorno, Kenneth Luongo, Luongo, John F, Kotek, they've, Buongiorno, Westinghouse, Trump, Biden Organizations: Plant, China National Nuclear Corporation, China Huaneng, Changjiang, China News Service, Getty, International Atomic Energy Agency, United, Massachusetts Institute of Technology, CNBC, Partnership for Global Security, World Nuclear Association, Chicago Tribune, Tribune, Service, IAEA, Organization for Economic Cooperation, Development, OECD, U.S . Energy Information Administration, Nuclear Energy Institute, International Energy Agency, France, Visual China, Georgia Power, Westinghouse Locations: China, Changjiang Li Autonomous County, Hainan Province, India, Turkey, United States, Georgia, Byron , Illinois, France, Russia, HUIZHOU, CHINA, Huizhou, Guangdong Province of China, Europe, Eastern Europe, U.S

☆ Consumer spending in China bounced back in August, survey finds
▼ + stars: | 2023-08-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Larger-than-life roses are on display in Nanjing, Jiangsu province of China, on Aug. 21, 2023, one day before the Qixi Festival. Vcg | Visual China Group | Getty ImagesBEIJING — Consumer spending bounced back in August after a tepid July, according to the China Beige Book's survey of Chinese businesses released Thursday. That's based on a survey conducted Aug. 17 to 25 of 1,300 businesses, the majority of which were not state owned. The China Beige Book survey also found that corporate borrowing surged as cost of capital declined. Another business survey released in mid-August, the CKGSB Business Conditions Index, reported a 50.9 print for July, a touch above the 50.02 figure recorded for June.

Persons: That's, Nomura Organizations: Visual China, Getty, Consumer, National Bureau of Statistics, Services, JL Warren Capital, Louis Vuitton, National Bureau, Statistics Locations: Nanjing, Jiangsu, China, BEIJING

☆ Chinese EV startup Xpeng shares soar 13% after announcing $744 million deal with Didi
▼ + stars: | 2023-08-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Vcg | Visual China Group | Getty ImagesBEIJING — Chinese electric car company Xpeng said Monday it is buying Didi's smart electric car development business in an exchange of shares worth $744 million. watch nowThe startup's deal with Didi comes as many companies look for ways to grab a slice of China's growing but highly competitive electric car market. Still operating at a lossThe deals come as traditional auto giants have the cash that electric car startups lack. The Didi electric car business — held by a subsidiary called Da Vinci Auto Co. — has also racked up losses. The unit had net assets of 937 million yuan as of June 30.

Persons: Didi, Xpeng, MONA, Li Auto, — Organizations: Visual China, Getty, Volkswagen, VW, Xpeng, Li, Vinci Locations: Shanghai, BEIJING, Xpeng, Hong Kong, China

☆ China is on course to overtake Japan and become the world's No.1 car exporter
▼ + stars: | 2023-08-15 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +2 min

China, automobile, vehicles Vcg | Visual China Group | Getty ImagesChina is on course to overtake Japan as the world's top auto exporter by the end of 2023, according to Moody's Analytics. "At this pace, China is on track to overtake Japan by the end of the year," Moody's economists wrote, a global ranking which Japan has claimed since 2019. According to Moody's projections, China produces more than half the world's lithium supply, thanks to its low labor costs compared to rivals Japan and South Korea. Moody's AnalyticsAs a result, some of the world's largest auto companies have set up production facilities in China, including Tesla and BMW . The Asia-Pacific region, which is home to some of the world's largest auto exporting powerhouses such as South Korea, China and Japan, has seen a mixed recovery in auto exports, Moody's highlighted.

Persons: Moody's Organizations: Visual China, Getty, Japan, EV, Tesla, BMW, Chery, SAIC Locations: China, Japan, South Korea, Germany, Thailand, Asia, Pacific

☆ This chart shows how exposed each of our 35 stocks is to China's struggling economy
▼ + stars: | 2023-08-15 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The chart below is meant to provide a high level view of the revenue exposure each of the 35 companies in our portfolio has to the world's second-largest economy. First, a couple caveats: Our energy exploration and production stocks Coterra Energy (CTRA) and Pioneer Natural Resources (PXD) screen as having zero revenue exposure outside of the United States. Nvidia (NVDA) is another stock where the direct revenue exposure can be misleading. That makes the 60% revenue exposure to the Asia-Pacific region more concerning, even as mainland China realized organic sales growth during the quarter. As a result, total sales, services sales and wearables, home and accessories sales all set June quarter records in Greater China.

Persons: Estee Lauder, WYNN, Estee Lauder We're, wouldn't, Jim Cramer's, Jim Cramer, Jim Organizations: Coterra Energy, Natural Resources, Nvidia, Devices, AMD, Apple, Wynn Resorts, Wynn, Macau, Starbucks, Management, Jim Cramer's Charitable, CNBC, Vcg, Visual China, Getty Locations: China, Asia, Pacific, Taiwan, Macau, United States, U.S, Japan, Greater China, India, Jiangxi Province

☆ WeWork could head to the scrapyard of American dreams. There's a stark warning in there for AI.
▼ + stars: | 2023-08-09 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

WeWork's rise and fall offers a stark warning for the AI era. Companies racing for glory in the AI era would do well to learn from the over-exuberance in the WeWork saga. Since the launch of ChatGPT last year, private tech investors have abandoned their temporary pullback in startup investment to throw money at almost any company with AI in the name. ChatGPT's creator OpenAI has bagged billions of dollars from Microsoft, while venture capitalists announced $10.7 billion of generative AI startup deals in the first quarter of the year, per data firm Pitchbook. But equally, investors would be wise to learn from WeWork and look under the hood of any AI firm claiming it will fundamentally alter any market.

Persons: OpenAI, Adam Neumann, Jackal Pan, Getty Images Neumann, –, It's, Sam Hogan Organizations: Microsoft, Visual China, Getty Images Locations: American

☆ Australia urges China to remove all trade restrictions after barley tariffs lifted
▼ + stars: | 2023-08-07 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Don Farrell Australian trade minister"We always saw the barley application and the suspension of the barley application before the [World Trade Organisation] as a template for dealing with the wine issue," he said. "And of course, we're extremely confident that the 220% tariffs that were applied to Australian wine will be removed." Thawing tensionsIn April, Australia agreed to "temporarily suspend" its World Trade Organization complaint against China for its 2020 decision to impose 80.5% duties on Australian barley trade that was once worth about 1.5 billion Australian dollars ($988.1 million). Vcg | Visual China Group | Getty ImagesOn Monday, Farrell said a "range of factors" were at play, with Chinese beer consumers and barley importers "very strongly in favor" of reintroducing Australian barley. Since then, Australia's foreign minister Penny Wong and trade minister Farrell have visited Beijing and have had direct meetings with their direct counterparts.

Persons: Don Farrell, Farrell, Xi Jinping, Anthony Albanese, Penny Wong Organizations: World Trade, World Trade Organization, Chinese Commerce Ministry, Nantong, Trade Zone, Visual China, Australian Locations: Australia, China, Beijing, Nantong, Jiangsu Province, Bali

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